Intraday Call Performance 10/11/08

Market closing higher above 3100

Market opened well above 3000 today and as expecetd never gave up and went to move above 3100 to make a high of 3161.Metal sector was the leader in today's rally followed by power, capital goods, telecom, oil & gas and technology sectors.On the global front, European and Asian markets were trading higher.Crude jumped 5% and gold gained 2.5%. Copper price jumped 8% in London trade and Shanghai copper hit the upper limit.The market breadth was positive with advances at 949 against declines of 300 on the NSE.Top Nifty gainers included Sterlite, Tata Steel and Cairn while losers included BPCL, Suzlon and ITC.Trading volume was less today with markets staying bullsih throught the day.

Following calls were given in yahoo messenger for clients:

Clients made cool profits today

Buy Nifty Futures around 3075 with stop loss 3055 for target 3110-3130-3165 and it made 3178....SUPER DUPER PROFIT

Short HDIL around 127 with stop loss 128.6 for target 123 and it made 124.2....GOOD PROFIT

Short LITL around 185 with stop loss 186.5 for target 180 and it made 176........SUPER DUPER PROFIT

Buy Reliance Capital around 685 with stop loss 682 for target 705-720 and it made 708....VERY GOOD PROFIT

Short SBI around 1296 with stop loss 1301 and it hit the small stop loss

Market Outlook 10/11/08

Market in recovery mode now..!

Two days of fall and nifty didn't break 2850 support and now nifty will look good if stays above 3000.On global scenario,The Dow Jones industrial average climbed 248.02 points to 8,943.81.Stocks pared gains immediately after a news conference by President-Elect Barack Obama on some disappointment that he did not outline any new additional steps to shore up the ailing economy in the near term.Trading volume was also less.Oil rose slightly on Friday as the dollar slumped following bleak employment data in the United States, the world's top energy consumer.U.S. crude settled up 27 cents to $61.04 a barrel off earlier highs of $62.82 a barrel.For today in indian market, nifty above 3000 will try for 3050 resistance and if nifty gets past 3050, buying might emerge in the market or else sell from high continues.On lower side, nifty has big support at 2950 and it will turn towards 2860 again if 2950 gets broken, or else range might be 2950-3050 this time.Stay above 3050 only buying might emerge strongly in the market.

Stock watch for the day:

Today's calls only for clients